Fleming Laboratories has raised INR 1,100 million for a minority stake from India Life Sciences Fund to enhance its manufacturing capabilities and enter fermentation-based API production.

Target Information

Fleming Laboratories (“Fleming”), a prominent active pharmaceutical ingredient (API) manufacturer, has successfully raised INR 1,100 million in exchange for a minority stake. The investment was secured from India Life Sciences Fund (“InvAscent”), a leading mid-market private equity fund focused on healthcare and life sciences. Based in Hyderabad, India, Fleming has established a strong reputation for its high-quality production of specific muscle relaxants, anti-arthritis, and antihistamine APIs.

Founded over two decades ago, Fleming has undergone significant transformation under the leadership of entrepreneurs JM Prakash and B Shivakumar, who acquired a controlling interest in the company in 2015. Their management has propelled the business into a debt-free and financially robust entity, capitalizing on the inherent strengths of the pharmaceutical industry and catering to growing global demands.

Industry Overview

The Indian pharmaceutical industry is recognized as one of the largest in the world, both by volume and value. It exhibits a remarkable growth trajectory, bolstered by robust demand domestically and intern